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Master in Finance

General information

Official Code: 9294
Acronym: MIF

Certificates

  • Master in Finance (120 ECTS credits)
  • Studies in Finance (75 ECTS credits)

Courses Units

Business Valuation

2MiF05 - ECTS

Provide the students with knowledge about available valuation methods that enable them to prepare or to critically appraise, acquisition proposals for existing businesses. The course will seek to raise participants' awareness of the necessary conditions for the acquisition of companies so as to add value to an organization, understand the risk factors to be taken into account and the accounting consequences of this type of operations.

Corporate Finance

2MiF04 - ECTS

The objective of the discipline is to go through the major problems of Corporate Finance, formulating the most important issues arising from the financial activity of a corporation, that is, the concepts, methods and decision tools which serve as a basis for financial analysis and decision-making in the company, namely investment and financing decisions. It will be sought always direct support on the contributions of the most relevant academic work on each issue. 

The program is developed following a perspective of the value of the corporation. As a basic paradigm, it has been adopted the maximization of the value of the corporation for its shareholders, partners or owners. Every financial issue will thus be approached in terms of its potential for generating corporate value. 

The program of the discipline includes the strategic and structural issues in financial decision-making, the most important decisions of value creation. 

Markets and Financial Investments

2MiF02 - ECTS

This course is designed to provide an understanding of financial markets and of the securities that are traded on them.
A well-functioning financial markets are a basic necessity for a well-functioning economy. Research in the area of financial markets is highly active and deals with issues continuously in the news and the subject of lively policy debate.
The first part of the course will discuss the basic role of financial markets, the types of financial assets and how they are traded.
The second part will cover the main strategies that investors can adopt. The working and regulatory environment affecting the financial investors will also be delineated.
Finally, in the last part of the course, we will examine some of the long-term trends in the financial markets.

Students successfully completing this course should have the necessary tools and understanding of the financial markets operations and the functions of financial markets in the economy.

Econometric Methods

2MiF03 - ECTS

The main goal of the course is to introduce econometric methods which are useful in the study of financial questions. The methods will be demonstrated by resorting to financial data and to specialized software. The course should also prepare the students to create and analyze empirical models in their dissertation or in the context of other scientific research in the financial area.

 

Project I

2MiF07 - ECTS Tgis course has a practical and applied orientation that aims to deepen the knowledge (theoretical, technical and/or instrumental) addressed during the fiste semester of the master programme.

Seminars I

2MiF06 - ECTS

The course aims to provide additional practical and applied knowledge in Finance, through the participation in seminars led by experts from corporate, academia and institutions. The seminar series will address different topics privileging the current challenges, the recent issues and the future perspectives in the field. Through the presentation of real-life cases by guest speakers, the students will develop the skills involved in characterizing complex problems in a multidisciplinary context, in evaluating the outcomes yielded and in communicating their analysis and conclusions.

 

Theoretical Foundations of Finance

2MiF01 - ECTS

Given the nature of the course, this unit is mainly theoretical. Its program aims at deepening the study of the main issues of the Theory of Finance, through a critical approach to its major proposals and problems. 

The program does not envisage a presentation of the basics of the discipline, although it will not go without ensuring, as often as possible, a quick review of the basic concepts and models. 


Derivatives

2MiF11 - ECTS

This course defines the concept of “derivative security” and investigates the mechanics of the markets on which such securities are traded. The significance of derivative securities is analysed both within the context of economic theory as well as from a practitioner’s viewpoint. Special attention is given to the pricing problem of these securities and various methods are studied to solve the problem. It is also discussed how these securities can be used for hedging and risk management. The module analyses the risks associated with derivatives securities, how to measure and manage risk.

Entrepreneurial Finance, Venture Capital and Private Equity

2MiF24 - ECTS Entrepreneurship, whether in its most mediatic form (creation of new companies), or in its least publicized form - but no less impactful (corporate entrepreneurship or intrapreneurship) - is the pillar of the medium and long-term growth of employment and of the economy.

This activity, due to its specificity and risk, requires adequate financing instruments that follow principles, processes and methodologies different from traditional finance, so they fall into a class of assets called alternative investments.

It is in this context that Venture Capital emerges, with a mission to finance companies, preferably innovative and high growth and impact ones, in their early phases of startup and growth.

In addition, for Entrepreneurship to have a significant and lasting impact, it needs an evolving and active transactions market - in the form of mergers and acquisitions. Private Equity (or buyouts in Anglo-Saxon markets) is a facilitating tool for this market of change of control in Companies.

Private Equity and Venture Capital (PE&VC) belong to the class of alternative assets that bring long-term capital to private (unlisted) companies. Unlike passive investments on the stock exchange, PE&VC nvestors actively manage their portfolios and the companies in which they invest in order to generate long-term value for all their stakeholders and an adequate return for their investors.

PE&VC is a relatively recent industry in virtually all of the world. It has, however, grown at a very fast pace.

The target companies covered by this industry have been increasingly diversified, both in terms of size, sector, life cycle or geographies, with PE more focused on larger businesses in stable companies and with good cash-flow generation, while VC focuses more on innovative, fast-growing projects, especially in the technology area. 

The objective of this course is to teach how these instruments work and give tools to the students that help them to interact with this type of investors in the capacity of entrepreneurs, consultants, financiers or investors.

Ethics and Corporate Governance

2MiF09 - ECTS The objective of the discipline is to develop the subject of Corporate Governance, an issue that has been gaining growing importance within Corporate Economics in general and Corporate Finance in particular, as well as to deal with the different aspects and imensions giving form to this important academic discipline.
Real world corporate governance cases will be studied and a systematic comparison will be made between the praxis of corporate governance and the concrete situations of corporate success and failure.

Behavioral Finance

2MiF22 - ECTS

Over the past several decades, financial theory has been based on the assumption that investors and managers are generally rational and that the prices of securities are generally efficient. However, recent studies suggest that markets are not efficient and that investors and managers are not fully rational. Behavioral finance offers a more realistic view of economic agents’ decision making. It argues that many facts about asset prices, investor behavior, and managerial behavior are best understood using models where at least some agents are not fully rational. In particular, behavioral finance uses psychological evidence to model investor and manager behavior in order to get a better understanding of the financial phenomena. The purpose of this course is to introduce the students to the new field of behavioral finance.

Mergers, Acquisitions and Restructuring

2MiF10 - ECTS

The main objective of this curricular unit is to introduce the students to the analysis of mergers, acquisitions and corporate restructuring topics in oder to enable students both to analyses such operations in their professional practice as well as to identify possible academic research questions.

Fixed Income Securities

2MiF12 - ECTS

The course aims to give the students an advanced understanding of debt markets: their characteristic elements, procedures for market issuing and placement.

Modelling and Data Analysis I

2MiF08 - ECTS The course aims to develop the skills to use and program in some of the most important software for modeling and data analysis.

Real Options

2MiF23 - ECTS

“For most investments, the usefulness of NPV rule is severely limited…, [modern finance] is now obliged to treat all major investment decisions as option pricing problems”

(Stephen A. Ross, MIT)

Real options is a major topic in corporate finance. It is intended that students develop the capacity to look at an investment project as an option or as a set of options, and not simply as a sequence of cash flows. This is a new and fundamental perspective to evaluate investment opportunities under uncertainty, irreversibility and flexibility. 

Project II

2MiF14 - ECTS Tgis course has a practical and applied orientation that aims to deepen the knowledge (theoretical, technical and/or instrumental) addressed during the second semester of the master programme.

Seminars II

2MiF13 - ECTS

The course aims to provide additional practical and applied knowledge in Finance, through the participation in seminars led by experts from corporate, academia and institutions. The seminar series will address different topics privileging the current challenges, the recent issues and the future perspectives in the field. Through the presentation of real-life cases by guest speakers, the students will develop the skills involved in characterizing complex problems in a multidisciplinary context, in evaluating the outcomes yielded and in communicating their analysis and conclusions.

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